Australia's Star Entertainment gains; Morningstar says stock undervalued

Skycity Entertainment

24/12/2024 24:00

** Shares of Australian casino operator Star Entertainment
 SGR.AX  rise as much as 2.6% to A$0.2
    ** Investment research firm Morningstar says casino earnings
are subdued in Australia and New Zealand but that has already
been reflected in stock prices
    ** Morningstar expects a medium-term recovery in the
gambling sector
    ** Says Star and NZ's SkyCity  SKC.NZ  are undervalued
    ** SKC shares down 1.4% at NZ$1.4
    ** SGR down 62.1% this year, as of last close, while SkyCity
lower 20.9%

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))